Petrobras and Equinor Begin Oil Recovery in Brazilian Wells to Expand Fuel Production

Two Initial Wells of the Petrobras and Equinor Oil Recovery Project Are Starting Drilling Services, and the Companies Expect a Significant Increase in Daily Barrel Production with the Initiative

Petrobras and Equinor recently announced the start of production from the first two wells of the oil recovery enhancement project in Roncador. By this Friday (04/29), it is believed that the initiative will take almost five months to further increase the daily barrel production of the fuel, as this process makes it possible to recover a large part of what would be discarded from the raw material.

Equinor and Petrobras Oil Recovery Project Is Launched, and the First Two Wells Are Already Operating to Ensure an Increase in Raw Material Production

The companies Petrobras and Equinor have joined forces to develop a new initiative aimed at increasing oil production and making resource exploration in the national territory even more efficient. Thus, the start of production from the first two wells of the oil recovery enhancement project marks a significant advance for the companies to achieve these results over the coming months by drilling even more wells in Brazil.

Additionally, Equinor announced that, with the start of production in the first two wells, the oil recovery project is now ahead of schedule by almost five months and currently has a reduction of half of the projected costs by the company and Petrobras. With this new initiative, the wells will add approximately 20,000 barrels of oil equivalent per day to Roncador, raising daily production to about 150,000 barrels, in addition to contributing to sustainability at the site, as the process reduces greenhouse gas emissions into the atmosphere.

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This is just the first phase of the fuel recovery project, and in addition to these two wells that have already been drilled, Equinor and Petrobras will drill 18 more wells over the coming months as a way to accelerate the project even further. Thus, the companies will have sufficient resources to increase production by up to 160 million barrels, as the oil recovery will ensure that this resource is fully utilized within the productive chain of these locations.

The First Six Wells Will Have 50% of Their Drilling Costs Reduced, and Companies Celebrate a Positive Start to the Project in Brazil

Petrobras has joined forces with Equinor to ensure greater technological efficiency within these operations, and with the adoption of cutting-edge technology and improvements in well infrastructure, the first six that will undergo the drilling process will have their total construction costs reduced by up to 50%. Furthermore, the first two have already benefited from this savings in spending, and the companies are now advancing in search of more technologies for the remainder of the initiative.

Thus, Veronica Coelho, manager of Equinor for Brazil, celebrated the project and stated: “We are very proud of what the partnership between Petrobras and Equinor has achieved, delivering this project ahead of schedule and under budget. This milestone demonstrates the partnership’s ability to increase production and value through technology. Petrobras will leverage its experience as one of the largest deepwater operators and pre-salt developers in the world, and Equinor will leverage its technology, knowledge, and decades of experience in IOR on the Norwegian continental shelf.”

Finally, the companies announced that project projections aim to increase recoverable resources to a total of 1 billion barrels of oil equivalent and that these numbers are expected to expand even further by the end of the initiative.